KIOWA — The Elbert County commissioners gave the go-ahead Wednesday to two new special improvement districts for a mixed-use development, despite concerns from residents about one of the former owners of the property.
The Elizabeth 86 Residential and Commercial Metropolitan districts were approved by the board. Commissioners Del Schwab and John Shipper voted in favor of the districts. Commissioner Hope Goetz was absent from the meeting.
The metro districts will be empowered to issue bonds to cover the cost of roads and other infrastructure. Taxes collected within the districts’ boundaries are used to repay the bonds.
The property is on the south side of Colorado 86, west of Elizabeth between Safeway and Wal-Mart.
Michael Woodard sold Denver lawyer Rodney Atherton and his partners about 100 acres several years ago, with the stipulation that 50 acres be a conservation easement to protect the integrity of the property.
But the group conveyed only 5 acres for conservation easement. Conservation easements are typically conveyed to an environmental group or a similar organization with the stipulation that the land never be developed.
Atherton no longer is involved in the group, Elizabeth 86 Investments LLC.
Woodard filed a lawsuit against Elizabeth 86 Investments LLC and Atherton in Elbert County District Court late last year, seeking unspecified damages. The suit also asks the court to either rescind the original contract — returning the property to Woodard — or establish the conservation easements of about 50 percent of the property.
Meanwhile, Atherton is being investigated by a federal grand jury for possible abuse of the conservation easement tax credit program.
Woodard’s attorney, Frank Cristiano, urged the commission to delay action until the final outcome of the legal issues.
“They may not be the property owners if the suit wins,” Cristiano said.
At build-out in 2022, the project would have 374 multifamily units on almost 40 acres and almost 213,000 square feet of commercial space, said Dianne Miller, a consultant for the developer.
The developer had originally approached the town of Elizabeth to consider annexing it but suddenly withdrew the request a few weeks ago.
Carlos Illescas: 303-954-1175 or cillescas@denverpost.com
